Thank you for joining me again! It is 115° in Phoenix today and buyers are still out looking for homes. The year is halfway over and I wanted to give you a market update!
There are multiple
market segments in the Phoenix area and all have inventories of just
around two months. A balanced market has a three to four month
inventory. So it is still a strong sellers’ market today. Below are
just a few of the market segments’ supplies:
East Valley: 1.7
months
Desert Ridge: 1.4
months
Northwest Valley: 2
months
Peoria/Glendale: 1.6
months
Southwest Valley:
1.8 months
I also wanted to
tell you about the absorption rate. The absorption rate is the
percentage of sales that sell each month. The higher the percentage,
the more of a sellers’ market it is. Certain areas of town have
very high absorption rates, they are:
East Valley: 58%
Desert Ridge: 70%
Northwest Valley:
51%
Peoria/Glendale 63%
Southwest Valley:
57%
What does this all
mean? It is still a very strong sellers’ market. So now is the time
to sell your home! Give me a call at 602.413.8195 so we can get
started on putting your home on the market! Or send me a quick email
Monique@moniquesells.com
if you want information about your neighborhood!
